Sports Betting New

New York Mobile Sports Betting Could Go From 'Sure Thing' to 'Bad Beat' Jan 27, 2021 - 11:15 AM ET. Mobile sports betting in N.Y. Could be huge—if done right. Get the Sports Betting sports stories that matter. From breaking news to in-depth analysis, get expert coverage from the best newsroom in sports, all personally delivered and ad-free. Crucial Quote: “At a time when New York faces a historic budget deficit due to the Covid-19 pandemic, the current online sports wagering structure incentivizes a large segment of New York. Jan 26, 2021 DraftKings sportsbook app in New Jersey is under the sports betting license of Resorts World. This is the same Resorts World that operates three casinos in New York. One of their locations is the Resorts World Catskills, and it’s one of the legal sportsbook venues in New York.

Another state is looking to bring in some sports betting tax revenue in 2021. In a filing to the state legislatures, Georgia Republican Ron Stephens and five other co-sponsors are attempting to push forward sports betting in the Peach State.

The proposed bill would give sports bettors six online-only sportsbooks with remote registration. The model that Georgia would institute will be similar to Tennessee. Tennessee adopted an online-only sports betting model, and the Tennessee Education Lottery oversees sports betting in the state.

In Georgia, plenty of sportsbooks will look to gain access to the 10 million people that inhabit the Peach State. Each one will be vying for a license as many states in the south have yet to hop on the sports betting bandwagon.

Georgia Sports Betting Could Gain Traffic From Florida And Other Neighbors

Georgia is uniquely placed within the country. According to a fact sheet from the Hartsfield-Jackson, Atlanta airport, they are located within a two-hour plane ride from80% of the US population. The Atlanta airport is home to 150 US destinations and more than 75 foreign destinations in 50 countries.

Garnering interest from sports bettors who are waiting for flights is not the only point of interest for the state. Most of the southern states in the US have resisted online sports betting to this point. In fact, only Tennessee has opted to legalize sports betting in that area.

Florida is looking to right this wrong as they are attempting to legalize sports betting. However, there are legal hoops to jump through in order for that bill to hit the governor’s desk.

Oregon

Ideally, Georgia will be able to use its location to bring in clients who may or may not be traveling. Furthermore, its proximity to Florida, a state with a massive population, could bring in additional revenue.

Does The Bill Have A Chance?

The bill proposed would include a $900,000 annual fee. This would be paid by the sportsbook to the state on a yearly basis. There is also a $50,000 license application fee to all sportsbooks who are applying for the license.

Moreover, Georgia would make a 16% tax revenue on adjusted gross sports wagering income. These are massive numbers for the state so it should definitely make legislatures happy.

However, there was a similar bill that failed last year. The bill got approved by the House but was rejected by the Senate.

Mobile Sports Betting New Hampshire

The expectation is that this bill will get through the House, whether it progresses through the Senate and onto the governor’s desk is yet to be seen.

Betting

Colorado Sports Betting News

New

Sports Betting New York News

Last week, Governor Andrew Cuomo abruptly reversed his stance on mobile sports betting, then quickly pivoted to support a lottery-run state sportsbook. On the heels of these two huge announcements, New York State Senator Joseph Addabbo and Assemblyman Gary Pretlow filed their mobile sports betting bill to the state senate and assembly.

The bill, s1183 (a1257 in the assembly) eschews Cuomo’s desired lottery model, instead favoring a casino-run sportsbook landscape in New York.

Sports Betting News Ny

NY Mobile Sports Betting Bill Details

Addabbo is no stranger to sports betting legislation. The State Senator has introduced similar bills in 2019 and 2020, but both efforts stalled and never saw the light of day. But after Cuomo’s change of heart, Addabbo and Pretlow’s bill aims to bring revenue to the Empire State economy.

S1183 and a1257 propose a $12 million fee for mobile and online sportsbooks in New York with a 12% tax on gaming revenue. The 12% rate is a notch up compared to the state’s 8.5% tax rate on in-person sports betting. Additionally, the bill sets forth a requirement that sportsbooks use official league data to provide live bets. That’s attached to a 0.2% royalty fee.

Sports Betting Sites

Currently, both bills are in committee. S1183 is with the Senate Racing, Gaming, And Wagering Committee. A1257 sits with the Assembly Racing and Wagering Committee.

Will It Pass?

Sports betting new york news

As of now, it’s really too hard to tell whether Addabbo and Pretlow’s bill will bring mobile sports betting to New York. In our recent interview with Senator Addabbo, he cited myriad reasons for New York to allow mobile sports betting using the casino model. Namely, he believes it will bring much-needed budget relief to the state.

Sports Betting News Missouri

If Governor Cuomo has his way, though, the Empire State will offer a single license paired with a New York Lottery partnership, effectively bringing a sports betting monopoly to the state.

Betting

Harrah's Sports Betting New Orleans

There’s no way to tell which route the state will take. Instead, expect an intriguing year for New York as legislators and the Governor duke it out over the state’s path to online sports betting.